Steve Eisman - Who called the 2008 crash - says the entire market is now "one trade," and it "better succeed" "Even people who think they're diversified because they own bonds are NOT really that diversified" The Big Short investor sold Google to cut his AI exposure and is sitting in cash. What's worrying him: > He Sold Google, Now In Cash (0:06): - A stock he's "owned... I can't even tell you how long" - sold to reduce AI exposure. He won't replace it with defensive names: people "don't want to shift out of it to buy Clorox." > If AI Fails, "A Big Correction" (0:52): - It's binary: AI succeeds and the market keeps climbing, or "I think we have a big correction." How big? "That's a hard question. I don't know." > "It's All One Trade" (1:07): - In a 60/40 portfolio, "more than 50 percent" of the stocks is "tech and AI related," and "most of the new issuance of bonds is AI related." Then: "What scares me is that it's all one trade. So it better succeed." > "Incestuous" Circular Deals (4:03): - The latest Nvidia deal is "so incestuous" and "totally convoluted" - "you don't know if there's any real profitability" in the machinations. He's not even an AI skeptic - it's going to be "something really good" (3:53) BUT "that doesn't mean that everybody succeeds" He actually moved to cash. Most crash calls come with no position behind them I traced every big AI CRASH CALL to its source and scored who was right ↓